Bank of New York Mellon Corp Reduces Position in Texas Capital Bancshares, Inc. $TCBI

Bank of New York Mellon Corp reduced its stake in Texas Capital Bancshares, Inc. (NASDAQ:TCBI - Free Report) by 3.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 383,558 shares of the bank's stock after selling 15,596 shares during the quarter. Bank of New York Mellon Corp owned 0.88% of Texas Capital Bancshares worth $36,392,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TCBI. Danske Bank A S purchased a new stake in Texas Capital Bancshares in the 3rd quarter worth approximately $25,000. Farther Finance Advisors LLC grew its position in Texas Capital Bancshares by 1,381.8% in the fourth quarter. Farther Finance Advisors LLC now owns 326 shares of the bank's stock valued at $30,000 after acquiring an additional 304 shares in the last quarter. Root Financial Partners LLC grew its holdings in Texas Capital Bancshares by 85.2% during the 1st quarter. Root Financial Partners LLC now owns 326 shares of the bank's stock valued at $31,000 after purchasing an additional 150 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Texas Capital Bancshares during the third quarter worth about $32,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Texas Capital Bancshares by 169.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 391 shares of the bank's stock valued at $35,000 after buying an additional 246 shares during the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Texas Capital Bancshares news, insider Anna M. Alvarado sold 3,500 shares of the business's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $100.95, for a total value of $353,325.00. Following the completion of the sale, the insider owned 23,810 shares of the company's stock, valued at $2,403,619.50. The trade was a 12.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Rob C. Holmes sold 49,500 shares of Texas Capital Bancshares stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $101.22, for a total value of $5,010,390.00. Following the sale, the chief executive officer directly owned 167,635 shares in the company, valued at $16,968,014.70. The trade was a 22.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 102,100 shares of company stock worth $10,366,023. Insiders own 1.91% of the company's stock.

Texas Capital Bancshares Trading Up 0.6%

NASDAQ:TCBI opened at $99.25 on Friday. The business's 50-day simple moving average is $101.32 and its 200-day simple moving average is $99.51. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.00 and a quick ratio of 1.01. Texas Capital Bancshares, Inc. has a fifty-two week low of $75.41 and a fifty-two week high of $108.92. The stock has a market capitalization of $4.33 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 1.44 and a beta of 0.67.

Texas Capital Bancshares (NASDAQ:TCBI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.01. Texas Capital Bancshares had a net margin of 17.90% and a return on equity of 10.86%. The company had revenue of $335.50 million during the quarter, compared to analysts' expectations of $333.37 million. During the same period last year, the business earned $1.63 EPS. The business's quarterly revenue was up 9.1% on a year-over-year basis. Sell-side analysts expect that Texas Capital Bancshares, Inc. will post 7.41 earnings per share for the current fiscal year.

Texas Capital Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.80 annualized dividend and a dividend yield of 0.8%. Texas Capital Bancshares's dividend payout ratio is presently 10.40%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Royal Bank Of Canada upped their price target on Texas Capital Bancshares from $110.00 to $114.00 and gave the company a "sector perform" rating in a research report on Friday, April 24th. JPMorgan Chase & Co. boosted their price target on Texas Capital Bancshares from $105.00 to $110.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 1st. Wall Street Zen downgraded Texas Capital Bancshares from a "hold" rating to a "sell" rating in a research report on Saturday, June 27th. Citigroup lifted their price objective on shares of Texas Capital Bancshares from $105.00 to $107.00 and gave the stock a "neutral" rating in a research note on Friday. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Texas Capital Bancshares in a research note on Monday, July 6th. Four analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $106.17.

About Texas Capital Bancshares

Texas Capital Bancshares, Inc is a bank holding company headquartered in Dallas, Texas, operating through its wholly owned subsidiary, Texas Capital Bank. The company specializes in providing commercial banking services to middle-market companies, entrepreneurs, professional service firms, real estate developers, and not-for-profit organizations. Its broad range of offerings includes commercial lending, treasury and cash management, real estate finance, equipment finance, and energy lending, all designed to address the unique financial needs of businesses navigating growth and market challenges.

In addition to its core commercial banking capabilities, Texas Capital Bancshares delivers private banking and wealth management services for business owners and high-net-worth individuals.

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